VERCO - BEL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VERCO - BEL
Largest movements
- Tangible fixed assets -€33,793
down €33,793 (-5.6%), from €600,761 to €566,968
of which Land and buildings: -€33,117
- Cash -€32,793
down €32,793 (-18.2%), from €180,440 to €147,647
- Profit (loss) carried forward -€37,800
down €37,800 (-21.2%), from -€178,337 to -€216,138
- Other debts -€27,427
down €27,427 (-10.4%), from €263,550 to €236,123
- Gross operating margin +€7,293
up €7,293, from -€5,252 to €2,041
- Financial income +€1,064
up €1,064, from €0 to €1,064
- Depreciation -€675
down €675 (-3.9%), from €17,234 to €16,559
- Other operating charges -€310
down €310 (-13.9%), from €2,236 to €1,926
- Taxes +€161
up €161, from €0 to €161
From the 2023 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €781,301 | €715,344 | -€65,957 | -8.4% |
| Fixed assets | 21/28 | €600,761 | €566,968 | -€33,793 | -5.6% |
| Tangible fixed assets | 22/27 | €600,761 | €566,968 | -€33,793 | -5.6% |
| Land and buildings | 22 | €600,086 | €566,968 | -€33,117 | -5.5% |
| Furniture and vehicles | 24 | €675 | - | -€675 | |
| Current assets | 29/58 | €180,540 | €148,376 | -€32,164 | -17.8% |
| Amounts receivable within one year | 40/41 | - | €158 | +€158 | |
| Other amounts receivable | 41 | - | €158 | +€158 | |
| Cash at bank and in hand | 54/58 | €180,440 | €147,647 | -€32,793 | -18.2% |
| Deferred charges and accrued income | 490/1 | €99 | €570 | +€471 | +474% |
| Total equity and liabilities | 10/49 | €781,301 | €715,344 | -€65,957 | -8.4% |
| Equity | 10/15 | €465,501 | €427,700 | -€37,800 | -8.1% |
| Contributions | 10/11 | €625,000 | €625,000 | = | 0.0% |
| Capital | 10 | €625,000 | €625,000 | = | 0.0% |
| Issued capital | 100 | €625,000 | €625,000 | = | 0.0% |
| Reserves | 13 | €18,838 | €18,838 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,602 | €8,602 | = | 0.0% |
| Legal reserve | 130 | €8,602 | €8,602 | = | 0.0% |
| Distributable reserves | 133 | €10,236 | €10,236 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,337 | -€216,138 | -€37,800 | -21.2% |
| Amounts payable | 17/49 | €315,801 | €287,644 | -€28,156 | -8.9% |
| Amounts payable within one year | 42/48 | €265,271 | €237,114 | -€28,156 | -10.6% |
| Trade debts | 44 | €1,721 | €991 | -€729 | -42.4% |
| Suppliers | 440/4 | €1,721 | €991 | -€729 | -42.4% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €263,550 | €236,123 | -€27,427 | -10.4% |
| Accrued charges and deferred income | 492/3 | €50,530 | €50,530 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,234 | €16,559 | -€675 | -3.9% |
| Other operating charges | 640/8 | €2,236 | €1,926 | -€310 | -13.9% |
| Gross operating margin | 9900 | -€5,252 | €2,041 | +€7,293 | |
| Operating profit (loss) | 9901 | -€24,722 | -€16,444 | +€8,278 | +33.5% |
| Financial income | 75/76B | €0 | €1,064 | +€1,064 | |
| Recurring financial income | 75 | €0 | €1,064 | +€1,064 | |
| Financial charges | 65/66B | €206 | €226 | +€19 | +9.3% |
| Recurring financial charges | 65 | €206 | €226 | +€19 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,929 | -€15,606 | +€9,323 | +37.4% |
| Income taxes | 67/77 | €0 | €161 | +€161 | |
| Profit (loss) for the period | 9904 | -€24,929 | -€15,767 | +€9,162 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,929 | -€15,767 | +€9,162 | +36.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.